Marketable Securities

6 Months Ended

Jun. 30, 2026

Investments, Debt and Equity Securities [Abstract]

The following tables summarize the Company's marketable securities (in thousands):


	June 30, 2026
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Treasury securities	$	12,860	$	—	$	(3)	$	12,857
Government-sponsored enterprises	27,896		—		(6)		27,890
Corporate debt securities	18,657		—		(6)		18,651
Total	$	59,413	$	—	$	(15)	$	59,398


	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Treasury securities	$	4,935	$	3	$	—	$	4,938
Government-sponsored enterprises	53,932		19		—		53,951
Corporate debt securities	73,796		15		(4)		73,807
Total	$	132,663	$	37	$	(4)	$	132,696

All of the Company's available-for-sale securities held as of June 30, 2026 and December 31, 2025 had contractual maturities of less than one year. All of the Company's available-for-sale securities in an unrealized loss position as of June 30, 2026 were in a loss position for less than twelve months. Unrealized losses on available-for-sale debt securities as of June 30, 2026 were not significant and were primarily due to changes in interest rates, including market credit spreads, and not due to

increased credit risks associated with specific securities. Accordingly, no allowance for credit losses related to the Company's available-for-sale debt securities was recorded. The Company does not intend to sell its investments and it is not more likely than not that the Company will be required to sell its investments before recovery of their amortized cost bases, which may be at maturity.